PetroChina starts work on refinery

PetroChina has begun construction on a RMB12 billion (US$1.53 billion) refinery in Guangxi to meet increasing energy demand. The refinery is designed to process 10 million tons annually (200,000 barrels per day) of crude oil into fuels, PetroChina said. China wants to increase oil-processing capacity by 25% by 2010 to satisfy growing consumption of motor fuels and chemical raw materials. (January 1, 2007)